The study by Datalicious of more than 700 million media touch points examined each of the advertising channels consumers ‘touched’ – a method known as ‘multi-touch attribution’. Their framework challenges the commonly used ‘last-click attribution’ approach that gives all credit to the last campaign touch point in the purchase path.
According to the CEO of Datalicious, Christian Bartens, display advertising is undervalued in most current models, which has led to ineffective media budget allocation over the years. Accurate attribution results from the study demonstrate that display and Facebook ads should be credited for 830% more revenue on average than previously thought.
Datalicious found, that Facebook advertising in particular still holds significant growth potential compared to other more established channels as it provides a high average ROAS yet comparatively does not receive a lot of media spend.
Datalicious produced this research in partnership with Facebook, however the attribution model and analysis was developed independently by Datalicious. The research is based on a sample size of 702 million media touch points across 104 million purchase paths and 75 thousand conversions across five months and seven brands (Suncorp, AAMI, APIA, BUPA, Aussie, St George and GE Money), which makes it the biggest study of its kind to date.
Datalicious is a full service analytics agency providing client focused solutions designed to scale with any organisation. From our beginnings as an Australian web analytics consultancy, Datalicious has expanded into a global 360 analytics specialist that provides a wide range of products and services to help our clients achieve smart data driven marketing best practice. Datalicious is part of the Veda Group (ASX:VED).
Source: Veda Press Release